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OJK revokes BPRS Hareukat Banda Aceh's business license

15 October 2019 08:39

BANDA ACEH - The Financial Services Authority (OJK) as the regulatory and supervisory authority of the financial services institution, revoked the business license of PT Bank Syariah Rakyat Hareukat, located at Jl. Masjid No. 18, Lambaro, Kabupaten Aceh Besar, Aceh Province.

For information, PT BPRS Hareukat since 27 March 2018 has been set with a status of BPRS Under Special Supervision (BDPK) because the Minimum Capital Adequacy Ratio (KPMM) is less than 0%. The determination of BDPK status was due to weak management by the bank who do not pay attention to the principles of prudence and the fulfillment of a sound banking principles.

The status is determined with the aim that the Management / Shareholders make restructuring efforts. However, until the specified deadline, the restructuring efforts undertaken by the Management / Shareholders to get out of BDPK and BPRS status can operate normally with a CAR at least 8% was not realized.

Considering the deteriorating financial condition of the BPRS and the statement of the inability of the Management and Shareholders in making the BPRS healthy and appointing Article 38 of the POJK above, the OJK revoked the BPRS's business license and continued the process to the Indonesia Deposit Insurance Corporation (LPS) to be followed up in accordance with its authority.

With the revocation of PT BPRS Hareukat's business license, LPS will then carry out the guarantee function and conduct the liquidation process in accordance with Law Number 24 of 2004 concerning the Deposit Insurance Corporation as amended by Act Number 7 of 2009. (LM)

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